Curve Seeks Community Funding for Operations

On the evening of August 19th, Curve Finance, one of the leading DEX platforms in the DeFi space, published a new proposal on its community forum, calling for additional funding to sustain its operations.

According to the proposal, Swiss Stake—the legal entity behind Curve Finance—has exhausted the allocated tokens since the project’s launch in August 2020. To continue software development and attract new talent, the company requires additional financial resources to ensure the long-term operation of Curve.

Specifically, Swiss Stake is requesting 21 million CRV tokens (approximately $6.3 million) from the community fund, which currently holds a total of 47.5 million CRV. This funding will be transferred to the project’s wallet and unlocked gradually over the course of one year.

Swiss Stake has committed to using this funding to maintain, expand, and develop the Curve ecosystem while providing bi-annual reports. The company also emphasized that the CRV tokens received may be staked and assured that the funds will not be misused.

The proposal is currently under discussion within the community and will soon move to the voting stage.

However, the community’s reaction to the proposal has been largely negative. While they recognize the critical role Swiss Stake has played in the development of Curve Finance, both in the past and present, many are dissatisfied with the company’s request for half of the remaining community funds without providing a clear development roadmap. Concerns have been raised about the company’s ability to establish a stable revenue stream to avoid further funding requests in the future.

Related: Curve Finance Founder Faces Over 100 Million Tokens Liquidation as CRV Plummets

Curve Finance TVL

Despite these challenges, Curve’s Total Value Locked (TVL) remains stable. Currently, the DeFi protocol boasts a TVL exceeding $2 billion.